UCP 600 For Letter Of Credit

This program will teach you about different rules and regulations of Documentary Credit. It takes you through different articles set in UCP 600 as per its functionality and applicability in various situations. It also discusses different regulations related to the documentation process of functioning of letters of credit.

Modules:

- General Awareness about Letter of Credit
- UCP 600

Part 1:

- Understand the applicability and functionality of UCP 600
- Define the terms and parties involved, as defined for the purpose of UCP600
- Interpret various terms as per UCP600
- Identify the roles and responsibilities of various parties to Letter of Credit

Part 2:

- The amendments relating to the letters of credit
- The methodology used in teletransmission and pre-advised credits and amendments
- Checking of documents and the discrepancies related to a particular document
- The circumstances in which the letters of credit are honoured

Part 3:

- Original documents and copies
- Commercial invoice
- A transport document covering at least two different modes of transport
- Bill of Lading
- Non-negotiable sea waybill
- Air transport document
- Courier receipt, Post receipt or Certificate of Posting
- “On Deck,” “Shippers Load and Count,” “Said by Shipper to Contain, ” and Charges additional to freight

Part 4:

- Marine insurance
- Common discrepancies related to insurance documents
- Insurance document and coverage
- The discrepancies of other related documents
- Steps to avoid discrepancies
- Discrepant Documents, Waiver and Notice

Part 5:

- Extension of the expiry date or last day for presentation
- Tolerance in credit amount, quantity and unit prices
- Partial drawings or shipments
- Instalment drawings or shipments
- Hours of presentation
- Force Majeure
- Transferable credits
- Assignment of proceeds

Part 6:

- Mock Exam
- Multiple choice questions
- Question hour